The awards support innovative COVID-19 response and recovery efforts related to savings groups, in the areas of women’s livelihoods, voice and leadership, violence against women, digital savings groups and more.

The program aims to increase income, improve livelihoods in rural areas and achieve financial inclusion for female breadwinners.

The mission of the collaboration lies in the improvement of financial services in the Central American and Caribbean regions.

The primary topic for this year's event is particularly essential today, as the world grapples with a worldwide health and environmental crisis and its impact on vulnerable communities around the world.

The $2 billion IFC commitment will support the continent's economic recovery from the pandemic by sustaining and creating jobs and business activity.

Technical assistance collaboration will review relevant policies and regulations, promote cross-border coordination to shift remittances into safer, more transparent formal channels.

The investment will help reduce traditional banking costs and improve supply chains boosting financial access, productivity and exports.

The company reported that the new partnerships are with Airtel, Thunes, InTouch and MFS Africa.

The foundation's announcement said that Mojaloop will benefit from Singapore's policy development perspectives and technical guidance.

The increase in remittances comes despite the impact of the pandemic on wages and employment across the world.